BONN: After more than $1 trillion was invested around the world to fight climate change last year, a United Nations official says more countries and businesses will benefit and everyone and everyone will benefit. affirmed that international climate finance needs to grow, strengthen and scale up to ensure a sustainable transition. The community is truly protected.
“At COP29 in Baku, all governments must agree on new goals for international climate finance that truly responds to the needs of developing countries. We need a permanent COP that recognizes the Billions of lives and livelihoods are at stake.”
“And we must focus on climate cash, leveraging more private finance wherever possible and sending signals to financial markets. Tracking to ensure promised funds are delivered. It is also important to introduce a system,” he said.
“We must fund a new generation of national climate plans. We must preserve the progress we made at COP28, triple renewable energy, double energy efficiency, accelerate adaptation, and build on the progress we made at COP28. “To translate the UAE Consensus commitment to accelerate the transition away from fossil fuels into real-world real economic outcomes,” he added.
Mr. Steele emphasized the importance of the Loss and Damage Fund, saying, “We have to make sure that the Loss and Damage Fund is fully functioning and that the funds are distributed to those who need it most.” This is the moment when serious rifts emerge between and within nations. At times like these, there is a temptation to turn inward. The delusional belief that what goes on in my neighbor’s backyard is not my problem or concern. ”
“We will focus on solutions and ensure that all countries have access to the huge benefits of bolder climate action: stronger growth, more jobs, improved health outcomes and safe, affordable and clean energy.” Let’s choose a path that will enable us to do so.”
That, he concluded, was the only way for all nations to survive and prosper.
COP29 is scheduled to be held in Baku from November 11th to November 22nd. COP29 will bring together leaders from around the world to discuss financing mechanisms to combat climate change.
Published October 21, 2024 9:20 AM IST
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